The Nifty Midcap 100 PE is at par with long-term averages, indicating opportunities at reasonable valuations. The market is going through consolidation after reaching 20,200 on the Nifty50. Rising interest rates pose a threat to equity markets, but inflation levels have peaked. The India-Canada standoff is more political than economic, with limited impact on long-term investments. Smallcap valuations have become relatively expensive, while midcaps still offer opportunities.
TODAY’S GAME PLAN: from the trading desk, this is not research DATA/HEADLINES 8:15ET ADP Employment Change; 9:45ET S&P Global US Services PMI, Composite PMI; 10:00ET Factory Orders, Durable Goods Orders, Cap Goods, ISM Services Index; 10:25ET Fed's Bowman speaks; 10:30ET Fed's Goolsbee speaks (and at 3 p.m.) ADP Report: Added 89k Jobs in Sept. (exp.
Shares drop over 1 per cent at open; US 10-year yield flirts with 4.7 per cent; $A tumbles; Computershare sells US mortgage services business for $1.1 billion. Follow updates here.
TODAY’S GAME PLAN: from the trading desk, this is not research DATA/HEADLINES 10:00ET Factory Orders, Durable Goods Orders, Cap Goods Orders TODAY’S HIGHLIGHTS: Ukraine's parliament approves Reznikov's resignation as defense minister BMW Warns Gasoline Car Ban Poses "Imminent Risk" To European Automakers CHINA TO LAUNCH $40B STATE FUND TO BOOST CHIP INDUSTRY: RTRS